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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
[X]Annual Report Pursuant to Section 15(d) of the Securities
Exchange Act of 1934
For the fiscal year ended December 31, 1995
or
[ ]Transition Report Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
For the transition period from _________________ to
_______________
Commission file number 1-44
A.Full title of the plan and address of the plan, if different
from that of the issuer named below:
ADM SAVINGS AND INVESTMENT PLAN
B.Name of the issuer of the securities held pursuant to the
Plan and the address of its principal executive office:
ARCHER DANIELS MIDLAND COMPANY
BOX 1470
DECATUR, IL 62525
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Audited Financial Statements
ADM Savings and Investment Plan
December 31, 1995
Report of Independent
Auditors..................................... 3
Statements of Net Assets Available for Plan
Benefits............... 4
Statements of Changes in Net Assets Available for Plan
Benefits.... 5
Notes to Financial
Statements...................................... 6
Item 27a--Schedule of Reportable Assets Held for Investment
Purposes 9
Item 27d--Schedule of Reportable
Transactions...................... 10
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Report Of Independent Auditors
Administrative Committee
ADM Savings and Investment Plan
Decatur, Illinois
We have audited the accompanying statements of net assets
available for plan benefits of ADM Savings and Investment Plan
("the Plan") as of December 31, 1995 and 1994, and the related
statements of changes in net assets available for plan benefits
for the years then ended. These financial statements are the
responsibility of the Plan's management. Our responsibility is
to express an opinion on these financial statements based on our
audits.
We conducted our audits in accordance with generally accepted
auditing standards. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that
our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above
present fairly, in all material respects, the net assets
available for plan benefits of the Plan at December 31, 1995
and 1994, and the changes in its net assets available for plan
benefits for the years then ended, in conformity with generally
accepted accounting principles.
Our audits were made for the purpose of forming an opinion on
the financial statements taken as a whole. The accompanying
supplemental schedules of assets held for investment purposes
as of December 31, 1995 and reportable transactions for the
year ended December 31, 1995 are presented for purposes of
complying with the Department of Labor's Rules and Regulations
for Reporting and Disclosure under the Employee Retirement
Income Security Act of 1974 and are not a required part of the
financial statements. The supplemental schedules have been
subjected to the auditing procedures applied in our audit of
the financial statements and, in our opinion, are fairly stated
in all material respects in relation to the financial
statements taken as a whole.
/s/ ERNST & YOUNG, LLP
ERNST & YOUNG, LLP
Minneapolis, Minnesota
June 20, 1996
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ADM Savings and Investment Plan
Statements Of Net Assets Available For Plan Benefits
[CAPTION]
<TABLE>
December 31
1995 1994
___________________________
<S>
Assets <C> <C>
Cash and cash equivalents $ 2,171$ 109,817
Investments (Note 1)
Archer Daniels Midland Company common
stock 205,004,592 220,040,463
Pfizer Incorporated common stock 2,950,794 2,323,449
Commingled fixed income funds 2,107,518 666,123
Equity mutual funds 2,938,280 1,035,588
Commingled capital contract fund 2,162,048 104,789
___________ ___________
215,163,232 224,170,412
Contributions receivable from employer 475,444 455,246
Contributions receivable from employees 689,500 660,968
___________ ___________
Net assets available for plan benefits$216,330,347$225,396,443
=========== ===========
</TABLE>
See accompanying notes.
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ADM Savings and Investment Plan
Statements of Changes in Net Assets Available for Plan Benefits
[CAPTION]
<TABLE>
<S> <C> <C>
Year ended December 31
1995 1994
____________________________
Additions:
Contributions from Archer
Daniels Midland Company $6,109,855 $ 5,463,893
(Note 2)
Contributions from
participating employees 8,880,046 7,929,694
(Note 2)
Transfer of Assets From 5,743,916 -
Qualified
Merged Plan 9,234 96,191
Transfer of Assets - Other
Investment income
Dividends 1,626,343 870,544
Interest 222,778 9,068
__________ __________
22,592,172 14,369,390
Deductions:
Benefit payments
Common stock 3,586,810 4,533,959
Cash 2,497,961 2,573,369
Other deductions (fees) 8,759 1,335
_________ _________
6,093,530 7,108,663
_________ _________
16,498,642 7,260,727
Net realized and unrealized
(depreciation)appreciation
in fair value of investments (25,564,738) 64,746,322
__________ ___________
Net increase (decrease) (9,066,096) 72,007,049
Net assets available for plan
benefits at beginning of year 225,396,443 153,389,394
___________ ____________
Net assets available for plan
benefits at end of year $216,330,347 $225,396,443
=========== ===========
See accompanying notes.
</TABLE>
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ADM Savings And Investment Plan
Notes To Financial Statements
December 31, 1995
1. Significant Accounting Policies
Basis of Accounting
The accounting records of the Plan are maintained on the accrual
basis.
Investments
Investments are carried at fair value. Common stocks are valued
at the quoted market price on the last business day of the Plan
year. Investments in commingled and mutual funds are stated at
the reported net asset value on the last day of the Plan year.
Unallocated funds are invested in a short-term money market
account as deemed appropriate by the trustee.
Plan Expenses
Brokerage commissions, transfer taxes and other charges and
expenses in connection with the purchase or sale of securities
are charged against the trust fund and added to the cost of such
securities, or deducted from the sale proceeds, as the case be.
Any remaining costs of administering the plan are currently paid
by ADM and its affiliates. While it is anticipated that ADM and
its affiliates will continue to pay these costs, the Plan does
permit the reasonable expenses of administering the Plan to be
paid from the trust fund. There are no charges or deductions,
other than taxes, that may be made against the trust fund other
than those described in this summary.
Plan Year
The Plan year is the twelve month period ending December 31,
corresponding to the tax year of the Company.
2. Description of the Plan
The Plan is a defined contribution plan available to
substantially all salaried employees of the Company who have
completed one year of service. Under the terms of the Plan,
employees electing to participate can contribute from 1% to 6%
of their current gross cash compensation to the Plan, within
ERISA limitations. In addition, the Company will match 100% of
the first 2% employee contribution and 50% of the remaining 4%
employee contribution. All contributions are received from the
Company in the form of Archer Daniels Midland Company common
stock and are fully vested to the participant.
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ADM Savings and Investment Plan
Notes To Financial Statements (Continued)
The full value of an employee's account is payable following
termination of employment. Withdrawals by active employees are
permitted after completion of seven years of eligible service
under specific circumstances. Withdrawal of shares acquired
under 401(k) provisions is subject to hardship restrictions.
All plan assets are held and managed by National City Bank of
Minneapolis (trustee of the Plan). The trust will continue for
an indefinite period of time as provided by the Plan.
3. Investments
The Plan's investments are held by a bank administered trust
fund. During 1995 and 1994 the Plan's investments (including
investments bought, sold, as well as held during the year)
appreciated (depreciated) in fair value as follows:
[CAPTION]
<TABLE>
<S> <C>
<C>
Net
Appreciation
(Depreciation)
in Fair Value Fair Value at
During Year End of Year
_____________________________________
Year ended December 31, 1995
Archer Daniels Midland Company
common stock $(26,865,424) $205,004,592
Pfizer Incorporated common stock659,991 2,950,794
Commingled fixed income fund 148,884 2,107,518
Equity mutual funds 331,392 2,938,280
Commingled capital contract fund160,419 2,162,048
__________ ___________
($25,564,738) $215,163,232
========== ===========
Year ended December 31, 1994
Archer Daniels Midland Company
common stock $64,539,405 $220,040,463
Pfizer Incorporated common stock253,127 2,323,449
Commingled fixed income fund (46,726) 666,123
Equity mutual funds (2,924) 1,035,588
Commingled capital contract fund 3,440 104,789
__________ ___________
$64,746,322 $224,170,412
========== ===========
</TABLE>
At December 31, 1995 and 1994, the fair value of the Archer
Daniels Midland Company common stock represented 5% or more of
the Plan's net assets.
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ADM Savings and Investment Plan
Notes To Financial Statements (Continued)
4. Transactions with Parties-in-Interest
During the two years ended December 31, 1995, the Plan had the
following transactions related to Archer Daniels Midland Company
common stock:
1995 1994
______________________________
Number of common shares contributed 850,844 529,920
Number of common shares purchased 103,745 3,674
Cost of common shares purchased $1,564,832 $ 85,778
Cash dividends received $1,590,716 $ 764,933
Shares received through stock dividends541,993 3,907,051
Number of common shares sold 164,272 71,913
Market value of common shares sold$2,863,115 $1,833,884
Cost of common shares sold $1,827,772 $1,220,787
5. Plan Terminations
Although it has not expressed any intent to do so, the Company
has the right to terminate the Plan at any time. Upon
termination, all amounts in participants' accounts are 100%
vested.
6. Income Tax Status
The Plan has received a determination letter from the Internal
Revenue Service dated April 10, 1996 stating that the Plan is
qualified under Section 401(a) of the Internal Revenue Code of
1986 (the "Code").
Once qualified, the Plan is required to operate in conformity
with the Code and ERISA to maintain its tax exempt status. The
administrator is not aware of any course of action or series of
events that have occurred that might adversely affect the Plan's
qualified status.
Distributions of benefits to participants, their estates or
beneficiaries, generally are subject to federal income tax as
either income or capital gain depending on the event giving rise
to the distribution and the method used.
7. Merger of Premiere Thrift Savings Plan
The Premiere Thrift Savings Plan, a qualified plan maintained by
Premiere Technologies, Inc., a subsidiary of the Company, was
merged into this plan and assets transferred in January 1995.
The participants allocated their transferred funds in the Plan's
investment options, except the ADM Stock Fund. All future
contributions will be invested in the ADM Stock Fund. However,
the merged Premiere participants have the option to re-allocate
the transferred funds within the other investment options while
they are active participants in the Plan.
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ADM Savings And Investment Plan
Item 27a--Schedule of Assets Held For Investment Purposes
December 31, 1995
[CAPTION]
<TABLE>
<S> <C> <C> <C>
Description of
Investment Including
Identity of Issue, Maturity Date, Rate of
Borrower, Lessor or Interest, Par or Current
Similar Party Maturity Value Cost Value
Archer Daniels Midland
Company * 11,389,144 shares
of common stock$67,550,416$205,004,5
92
Pfizer Incorporated 46,838 shares
of common stock1,240,011 2,950,794
Equity mutual funds
Frank Russell--Real Estate
Securities Fund 12,551 units 273,350 295,065
Frank Russell--Equity I17,832 units 451,685 499,310
Frank Russell--Equity II4,097 units 107,549 118,327
Frank Russell--Equity III27,304 units 728,682 794,828
Frank Russell--Equity Q16,437 units 436,570 499,679
Frank Russell--International20,162 units 676,715 731,071
__________ ___________
2,674,551 2,938,280
Frank Russell--Commingled capital contract
fund 137,631 shares
of common stock2,050,295 2,162,048
Commingled fixed income funds
Federated High Yield Trust11,776 units 101,530 105,987
Federated International Income
Fund 36,985 units 390,934 417,189
Frank Russell--Multistrategy
Bond Fund 10,221 units 100,107 105,688
Frank Russell--Diversified
Bond Fund 68,488 units 1,409,635 1,478,654
__________ ___________
2,002,206 2,107,518
__________ ___________
Total assets held for investment $75,517,479$215,163,232
========== ===========
</TABLE>
* Indicates party-in-interest to the Plan.
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ADM Savings And Investment Plan
Item 27d--Schedule of Reportable Transactions
Year ended December 31, 1995
[CAPTION]
<TABLE>
<S> <C> <C> <C> <C> <C>
Net
Purchase Selling Cost of Gain
Identity of Party Involved Description of Asset/Transaction Price Price Asset (Loss)
Category (iii)-Series of
Transactions
National City Bank Prime Cash Money Market Fund
Purchased 24,373,041 units
in 165 transactions $24,373,041 $24,373,041
Sold 24,464,819 units in
162 transactions $24,464,819$24,464,819
Frank Russell Investment Company Frank Russell
Equity Funds
Purchased 450,888 shares $8,310,698 $8,310,698
in 47 transactions
Sold 220,678 shares $4,188,699 $4,058,549 $130,150
in 84 transactions
Archer Daniels Midland Company Archer Daniels Midland Company
common stock
Purchased or received for
401(k) plan contribution
882,491 shares in 24
transactions $16,554,733 $16,554,733
Sold 164,272 shares in 52
transactions $2,863,115 $1,827,772$1,035,343
There were no category (i), (ii) or (iv) transactions during the year.
</TABLE>
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Signature
Pursuant to the requirements of the Securities Exchange Act of
1934, the Plan Administrator has duly caused this annual report
to be signed by the undersigned thereunto duly authorized.
ARCHER DANIELS MIDLAND COMPANY
/s/Douglas J. Schmalz
Douglas J. Schmalz
Vice President and Chief Financial
Officer
Dated: June 26, 1996
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Exhibit 23
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in the
Registration Statement (Form S-8 No. 33-58387 dated April 3,
1995) pertaining to the ADM Savings and Investment Plan of our
report dated June 20, 1996, with respect to the financial
statements and schedules of the ADM Savings and Investment Plan
included in this Annual Report (Form 11-K) for the year ended
December 31, 1995.
/s/ ERNST & YOUNG, LLP
ERNST & YOUNG, LLP
Minneapolis, Minnesota
June 26, 1996
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